Find out more about Papaya Global Cyclical Re Enrolment ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Worker Website supplies employees with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits bundles to global workers no matter the variety of workers in the company. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local benefits providers in every country, develop local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall employment costs dispersed per area, overall employment expenses per cycle and much more.
Globally, I have actually demonstrated leadership and strategic proficiency in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll methods, as mentioned by Mark. My function involves managing and developing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We focus on providing payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've kind of had a range of different functions on the company side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really really gloomy and I want I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies preserve separate
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for businesses operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a troublesome job into a tactical property.
Handling payroll internationally is a challenging task due to numerous regulations, compliance requirements, information security issues, and banking rules. The large variety of employees and services adds to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual processes, data silos, and a lack of combination, leading to inconsistencies and inadequacies. Despite residing in a period of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to offer insights and services to simplify and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more a business spends on global payroll the less of a photo they see a lack of visibility also reaches payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of international organizations have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes badly interacted hires and terminations along with lack management and system configurations and then when you round everything off and the information is delivered to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they rely on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles business face when they're making payments to employees or otherwise that's a good concern I constantly toss this back and state what is it what does not need to be consisted of right and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is definitely vital but everywhere you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to kind of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm constantly surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the payment landscape is ending up being increasingly complex. Companies are continuously presenting new advantages and payment options, which adds to the total complexity. Large corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and traffic jams. In my opinion, this does not need to be the case. In today's technologically sophisticated period, there's no validation for maintaining troublesome procedures. Payroll, the business's most significant expenditure, should be processed properly and on time. Even slight delays can negatively impact staff members' wellness and have significant repercussions. For that reason, it's vital to prioritize accurate and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just notice when things go wrong. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally too. Therefore, it is important to make sure that jobs like Wi-Fi Global and other crucial matters are done properly. Utilizing the first Worldwide Payments very first payroll payment option is a terrific initial step towards offering an extensive payroll option for employees worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and savings account essential for international payroll are crucial factors in achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as planned. Eventually, we don't do it for the thankfulness.
anyway we understand how how important a function it is and that's why we do it that's why we get on with it and this is why we're talking today about making it as simple as possible for everyone that's associated with those procedures and also so think of sorry I'm just I was simply gon na say envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and kind of try to get back to everyone so proceeding appearance why do business select to primary different bank accounts there are companies out there doing exactly this for particular nations and I've worked in a company or lots of services doing precisely that I can say it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not producing extra work for any person where we do not have to and any person that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many factors one is it's the standard I think individuals have actually got so used to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have actually adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I think this is a procedure that needs taking a look at it requires changing however eventually individuals are extremely stuck with what they're familiar
with right um change is a difficult thing we all do not like modification um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having maintaining multiple savings account but there's a huge quantity of complexity chooses establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is substantial but I believe the honest answer is change um individuals haven't had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century or so there is a lot to monitor and this technique does posture a number of obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this improved capability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your achievements.
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